Three Russian Officials Join A7 Board

Russian Finance Minister Anton Siluanov, Energy Minister Sergei Tsivilev, and First Deputy Prime Minister Denis Manturov have joined the board of the cross-border payment company A7. A7 was established by the Russian Industrial and Commercial Bank (PSB) in 2024 and uses the ruble stablecoin A7A5 for settlements. A7A5 was launched in Kyrgyzstan in 2025, with ruble deposits supporting it held at PSB, which estimates its transaction volume has reached $14 billion. The U.S. Treasury announced sanctions against A7 on October 1, stating that it has established a global network of affiliated companies that disguise payments related to sanctioned industries and individuals as ordinary business activities.

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